Inventory levels still growing and Sales are slowing here in Waetrloo Region

I hope you are having a great June so far. The nice weather is finally here and all the gardeners are loving it. The Real Estate Market here in Waterloo Region has been pretty sluggish over the past year and most notably this spring but I have noticed in the last week or two the showing activity has picked up on residential homes. The condo market is still saturated with inventory and not selling through well but prices seem to remain steady. Lets take a look at the stats for may…. 

In May, a total of 675 homes were sold, this represents a 9.3 per cent decrease compared to the same period last year and a decline of 26.2 per cent compared to the average number of homes sold in the previous ten years for the same month. 

Total residential sales in May included 427 detached homes (down 8.4 per cent from May 2024), and 132 townhouses (down 1.5 per cent). Sales also included 67 condominium units (down 20.2 per cent) and 48 semi-detached homes (down 18.6 per cent).  

In May, the average sale price for all residential properties in Waterloo Region was $789,154. This represents a 3.6 per cent decrease compared to May 2024 and a 0.8 per cent increase compared to April 2025.  

• The average price of a detached home was $909,897. This represents a 3.7 percent decrease from May 2024 and a decrease of 1.0 per cent compared to April 2025.  
• The average sale price for a townhouse was $634,320. This represents a 3.5 per cent decrease from May 2024 and an increase of 3.1 per cent compared to April 2025.  
• The average sale price for an apartment-style condominium was $431,944. This represents a 6.7 percent decrease from May 2024 and a decrease of 9.4 per cent compared to April 2025.  
• The average sale price for a semi was $652,627.  This represents a decrease of 6.7 per cent compared to May 2024 and a decrease of 1.4 per cent compared to April 2025. 

Right now, we’re seeing a market that is different from the frenzied market of a few years ago, but that’s a good thing for buyers who have more breathing room to make decisions.  The fundamentals that make Waterloo Region attractive – our diverse economy, strong tech sector, world-class educational institutes and stable governance – continue to strengthen. Waterloo Region has proven time and again that it is a solid place to invest and put down roots.   

There were 1,663 new listings added  last month, an increase 1.4 percent compared to May last year and a 15.6 percent increase compared to the previous ten-year average for May.  

The average time to sell a home in May was 24 days, which was the same in the previous month. In May 2024, it took 16 days for a home to sell, and the five-year average was 14 days. 

If you have any questions at all, are thinking of making a move this summer or are wondering what your home might be worth, give me a call or text to 519-497-4646  or shoot me an email to kevinbakerrealestate@gmail.com and we can sit down for a coffee and chat about your family’s needs going forward.

Have a great Fathers day next weekend  to all the dads out there. 

Kevin